Insights | 28 September 2022

George Campanellas , CEO, Invest Cyprus

Q: Cyprus and the United Arab Emirates have friendly relations and a long history of cooperation. In terms of investment, what key projects in Cyprus have attracted participation from the UAE, and what type of foreign direct investment would you like to see from the Emirates in the future?

Invest Cyprus, as the investment authority of the Government of Cyprus dedicated to attracting and facilitating foreign direct investments, strives to strengthen the business ties between Cyprus and the UAE.

The organisation is implementing a strategic plan focused on three main pillars: attracting FDIs in critical economic sectors, promoting Cyprus as an ideal location for tech companies, and promoting Cyprus as the ultimate jurisdiction for investment funds and fund managers in Europe.

Recently, an agreement for bilateral cooperation between the Abu Dhabi Chamber of Commerce and Industry and the Cypriot Chamber of Commerce and Industry has been signed, sealing the strengthened business relationship between the two countries.

Moreover, we are building a strong relationship with the UAE’s Sovereign Wealth Fund, Mubadala, with which we initiated a discussion to explore ways for a Comprehensive Strategic Partnership, as part of the collaboration between our governments.

Tourism and hospitality, real estate, and renewable energy are among the sectors of the Cypriot economy that offer diversified and profitable investment opportunities. One of the most important investments in Cyprus is that of DP World. DP World, an Emirati multinational logistics company, specialising in cargo logistics, port terminal operations, maritime services, and free trade zones, was awarded a 25-year concession to operate the multi-purpose and cruise terminal in Limassol commencing in February 2017.

September 2022

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